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Brazil extends tax exemptions to revive economy

Brazil extends tax exemptions to revive economy

Brazil is extending a tax-exemption program for vehicles, construction materials and household appliances to speed up the recovery of Latin America's biggest economy.
Most of the exemptions, which were to expire by July 15, have been extend to the end of the year.
Finance Minister Guido Mantega says the excise tax exemption will also expand to cover 70 capital goods items such as wind power generators and industrial valves.
Mantega said Monday that long-term interest rates on National Development Bank loans will be reduced from 6.25 percent to 6 percent.


Updated : 2020-12-05 16:58 GMT+08:00